BOE’s Bailey Says ‘the Job Is Not Done’ on Fighting UK Inflation

Bank of England Governor Andrew Bailey said “the job is not done” on fighting inflation even though he expects those pressures to dissipate rapidly this year.

In an interview with the Orcadian newspaper, the governor said he expects the headline inflation rate to dip to 5% “or a bit below” by the end of 2023, but thereafter “we still have a way to go to bring it down” to the 2% target.